Fresh Projects

00:00: The Project Budget refers to the internal resource and expense budget set by Project

00:04: Managers to plan costs on a specific project.

00:08: Let's take a look at how to set it up.

00:11: Click on Projects in the Main Menu.

00:15: Click "All Projects" to navigate to your Projects.

00:19: Click "View" to open your selected project.

00:23: To ensure your budget is as precise as possible,

00:26: the Project Budget is set per stage.

00:29: Simply click on the pencil icon in the Budget column next to any of the sub

00:34: projects to start.

00:36: If you would only like to record the value of the internal budget without defining

00:40: it into the necessary resources,

00:42: set theResource BudgettoLump Sum.

00:46: Then input the total Lump Sum amount for the Sub Project.

00:53: Alternatively, to create an in-depth plan which will allow you to assign specific

00:57: resources,

00:59: set the Resource Budget to Detailed mode.

01:02: With the Resource Budget set to Detailed,

01:05: you can assign a specific staff member to this sub project by searching for

01:09: them under the Resource heading.

01:12: The name of the employee the drop-down list will allow you to choose them from the

01:15: available staff members once you click on their name.

01:19: They will be added to your resource budget.

01:23: Now,

01:23: you will be able to specify the number of hours required of them.

01:29: We also have an Effort estimator available to make it easier to estimate hours.

01:35: You can estimate the hours based on a predicted duration of the stage as well as a

01:39: predicted Involvement of the employee.

01:43: If you are uncertain as to which employee would be involved in the stage,

01:47: you can just as easily enter the name of a generic job category as a Resource.

01:53: A value will now appear next to the respectiveResourceunderTotal Budgetto the right of the screen.

01:57: This value is

01:59: equal to the number ofHoursspecified multiplied by the unique cost rate of the resource.

02:04: rate of the resource.

02:07: Similarly, under the Expense heading,

02:09: you can set any expenses you want to include in this sub project budget by

02:13: clicking on the page icon.

02:16: Then,

02:17: select an expense type from the available options in the drop-down list.

02:22: If the expense type you need does not appear in the drop-down list,

02:25: you will need to contact your company's Admin user to add it.

02:30: You can now assign a cost to the expense

02:34: Click "Lock Budget" to finalise and lock the project budget settings.

02:39: When the budget is locked, you can reflect the progress of the listed Resources and

02:44: Expenses by using the slider.

02:47: While it is generally advised that no changes be made to the budget once it has been

02:51: set up,

02:52: should you ever need to,

02:53: you can always unlock the budget to make any necessary alterations by clicking Edit

02:58: Budget.

03:00: Once you are happy with the budget,

03:02: click Done to return to the Budget & Fee section of the project.

03:07: The value of the budget for the first sub project will now be visible under

03:11: the Budget column.

03:13: You can now go ahead & repeat these steps for each of the sub projects in

03:17: your project.